Dangote

Reader survey As a reader of PREMIUM TIMES, your opinion matters. Please take our survey to help us better understand the values and preferences of our readers. Your feedback will give us valuable insights into how we can tailor the different types of content we offer to meet your needs. The survey should only take about 6-8 minutes to complete. Click here to take it. The Board of Trustees of the Aliko Dangote Foundation announced it has resolved to be fully involved in the evacuation and resettling of…

Reader survey As a reader of PREMIUM TIMES, your opinion matters. Please take our survey to help us better understand the values and preferences of our readers. Your feedback will give us valuable insights into how we can tailor the different types of content we offer to meet your needs. The survey should only take about 6-8 minutes to complete. Click here to take it. As part of efforts to boost food production in the rainy season, Dangote Cement announced that no fewer than 60 farmers have participated in…

By virtue of generally strong corporate results for 2022, a good number of equities in the market are becoming attractive and priced low considered side by side with their earnings. That seems to be the main impetus for increased activity last week, with transaction size surging by more than two times. With the earnings season for fiscal year 2022 approaching its end and first-quarter financials beginning to be released, it is expected that the momentum of activity in the market will hang on how impressive…

Dangote Cement Plc, sub-Saharan Africa’s biggest cement maker, said it has conducted a practical exhibition of the uses of its Falcon cement variant in the full glare of block moulders and other construction experts at the ongoing trade fair in Enugu. In a statement issued on Sunday, the company noted that users of the new variant are assured of solid structures given its weather-proof quality. It added that the demonstration involved tiling, building, plastering and band screeding. Johnson Olaniyi, the…

Dangote Cement is steadily on track to realise the target of repurchasing up to 10 per cent of its common stock, having received the capital market regulator’s authorisation to start a new share buyback. The company announced Wednesday the Securities and Exchange Commission had validated the move, setting up Africa’s largest cement manufacturer for the launch of its third share repurchase in less than three years. From the first phase completed on the last day of 2020, 40.2 million shares were repurchased for…

Dangote Cement reported an increase in its bottom line for 2022 as its net profit slowed to a single digit from as much as 32 per cent in the preceding year. Although the growth was impacted by headwinds from operational costs and the urgency to commit part of revenue to expansion, revenue for the year under review came to N1.6 trillion from N1.4 trillion, a 17 per cent jump. The need to scale means sub-Saharan Africa’s largest cement producer invested more fund summing up to N249.3 billion in twenty five of its…

Dangote Industries Limited (DIL) has signed an agreement with China Sinoma International Engineering to build a six million tons per annum cement plant in Itori, Ogun State. The agreement was signed by the Chairman of Dangote Cement Plc, Aliko Dangote alongside the Group Executive Director, Strategy, Capital Projects & Portfolio Development, DIL, Devakumar Edwin, while China Sinoma Engineering was represented by its Group President, Yin Zhisong, and the company’s Chairman, Liu Renyue. Mr Dangote speaking at…

Dangote Cement Plc has named Arvind Pathak as the company’s new chief executive/managing director, the company said in a note posted on the Nigerian Exchange’s website on Thursday. Mr Pathak will replace Frenchman Michel Puchercos, who will depart the cement maker at the end of February after three years at the helm. The new CEO’s tenure begins on 1 March, the disclosure said. Mr Pathak led India’s Birla Corporation, a cement producer, before he became the chief operating officer and deputy managing director of…

For the third quarter of 2022, the Management of Dangote Cement has recorded an increase in the overall volume of cement sales by 6.2 percent to 20.8metric tons. This was achieved despite the elevated inflation that is due to a very volatile global environment. To further increase the supply of cement across its operational base, the company has also commissioned its power plant at Okpella and is progressing well to deploy grinding plants in Ghana and Cote d’Ivoire. Chief Executive Officer of Dangote Cement,…

The management of Dangote Industries Ltd. (DIL) says it owns Obajana Cement plant 100 per cent and its acquisition in 2002 followed due process. The company said this in a statement issued by Anthony Chiejina, Group Head Branding and Communications, DIL, titled, ‘Obajana Cement Plant: Separating Facts from Fiction.’ The Kogi State government last week shut the Obajana plant, questioning the Dangote Cement’s ownership of the factory. The government also raised issues of tax payment. The Dagote Group said the Kogi…